The memecoins are exploding ever since the Bitcoin price surged past $100K and Ethereum headed strongly above $2200. Meanwhile, Pepe’s price has surged by over 40% since the last trading day, which has outperformed the top memecoins like Dogecoin or Shiba Inu. Now that the token has strongly approached the crucial resistance, another 10% upswing could trigger a strong bull run that could push the price by more than 60% by the end of the month.
Memecoin mania has just begun, with most of them having surged by a double-digit margin. Along with Pepe, the BOOK OF MEME price also attracted 30% gains while Fartcoin, Mog Coin, FLOKI, ApeCoin, etc, surged by 18% to 20%. The rest of the popular ones increased by nearly 15%. The Pepe just ripped through key resistance at $0.000009, fueled by a record whale accumulation and a 150% spike in the trading volume.
Besides, the technicals confirm a pattern breakout, which suggests a major price action is fast approaching, which could lead the rally towards a new ATH.
The historical chart pattern of Pepe price suggests the token has begun the next phase of the bull run after withstanding significant bearish pressure since the start of the year. The price broke above the neckline of the double-bottom pattern and also secured the crucial resistance at $0.000011. The weekly RSI and MACD have triggered a massive bullish divergence, which suggests the rally has gained massive strength. The MACD has initiated a bullish crossover, suggesting the PEPE price is primed to mark a new ATH.
The price is testing the 200-day MA in the weekly chart; a rise above the range could push the token towards the higher targets at $0.00001712 initially and later at $0.00002118. Once these levels are secured, the PEPE price is expected to enter a discovery phase and head towards the resistance of the channel it has been following since the start. Therefore, the memecoin is expected to form a new ATH around $0.00006 in the coming weeks.
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